What is Business plan? Why do you need it? How can you make your own business plan? I will answer all of these question in this topic.
Usually the purpose of a Business plan is to attract a new investors for your future projects or applying for a finance help to an organization or the Goverment. But most of all it is for you as well - making a business plan will allow you to determine your purpose and the needed resources for that. Make your finance balance very well, because the easiest way to be thrown out of the market is to have unbalanced financial assets.
What is the content of a business plan? - The main points of a successful business plan are:
1. Resume - This is a summary of the whole business plan within one page. If your goal is to attract investors, this may be the most important part of the plan. Summarize what you sell, what are your potential customers and how to win them for your cause, what is the market, what are your competitors and how you stand by them, what is your strategy, what resources you need and what is the expected return on investment.
2. Mission - In this section you can present the goals and philosophy of your business. Why is it there? How will you achieve success as part of a business system? What will be your company's contribution to the lives of customers, employees and neighborhood community?
3. Business - What are the magnitude and trends in this business, what are the success factors and trends for its technological development or state regulation.
4. Product - What exactly do you offer to your clients? How you stand out from competitors, what are your profit margins.
5. The Market - Here it is about who your customers are. What are their consumer habits and what are the main trends in consumption? What types of products exist and how they are positioned at different price levels. Describe what are your main competitors, their market shares and the specifics of their products.
6. Operations - This section deals with the daily conduct of business - who are your main suppliers, how to produce or offer your product or service, what is working time, etc.
7. Marketing plan - The main idea of your business are the customers that will bring revenue - how do you plan to attract them, what is your strategy and plans to promote business in your neighborhood or town. Do you envisage a special campaign around the opening? What is your pricing strategy, promotions or discounts which will offer to customers?
8. Managment and employees - According to most of the investors most important for business success is the management team. Here is the place to introduce the qualities and the biography of the head manager and his staff, and their functions as well.What staff you need, how do you plan to recruit and train them? Can you encounter difficulties in recruitment? Do you need highly skilled employees to train them, or you can allow to do this in short term period instead?
9. Fundings - What are the initial and ongoing investments you have to do and what funding you need. And also your forecast for a turnover and profits over the next 3 to 5 years. What is the level of sales you need to make net profit and how long it will take the investment to be payed back?
10. Main targets and deadlines - What do you plan to achieve and how you are going to do that?
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